The situation for the euro is going pretty well for the last few days as the price broke trough the supply zone and its making its way to 1.15. USD weakness sparks demand for euros, controversial to the fundamental data from the EU with weak CPI, WPI, German ZEW economic sentiment and flat zew overall sentiment. But the situation in the US isn't pretty as well with abysmal inflations data with all of it coming in red territory. Comments from fomc members also hinted that there may not be a hike in 2015 at all. WSJ's Hilsenrath noted in his article:" The chances of a Federal Reserve Interest - rate increase in 2015 are diminishing amid new signals of anemic economic activity, a disappointing development for central bank official who have been hoping to move this year after a prolonged period of easy-money policies."

Fed rate hike odds:

source: zerohedge

These conditions if remain will suppress the USD even further, giving an opportunity for its rivals to gain ground.